HP Acquires Palm for $ 1.2 Billion - Sees WebOS as Prized Asset

In an absolutely unbelievable turn of events that left the whole tech world open-mouthed in sheer astonishment, #1 PC-maker HP buys ailing Palm.

Credit: Engadget

"Between smartphones, slates, and potentially netbooks, there are a lot of opportunities here,"
Todd Bradley, Executive Vice President of HP's Personal Systems Group, told Engadget(source) on HP's latest major acquisition.

The word is that Palm's existing hardware roadmap is basically untouched at this point by this acquisition, but the good news on the HP end of things is that the company sees webOS as a "prized asset," and they intend to "scale it across multiple connected devices."

The deal is worth $1.2 billion, which translates to $5.70 per share of Palm common stock.